Half of current finance artificial intelligence deployments will be either delayed or cancelled by 2024, while the use of business process outsourcing for AI will rise from 6% to 40% within two years, according to Gartner.
“While finance departments have made reasonable progress in laying the groundwork for AI, the challenges come when attempting to scale up solutions that can manage the complexities of function-wide use,” says Sanjay Champaneri, senior director analyst in the Gartner Finance practice. “The upfront costs of building scalable infrastructure in house, and the overreliance on stretched citizen developers, will lead many CFOs to rethink their current strategies.
Champaneri notes three key barriers that finance departments will face when attempting to scale up their AI processes across the functions. * Skill-gaps among citizen developers – The citizen developer role is not designed for the technical complexities required to synchronise IT systems and services, nor do they have the skill sets required in workflow management to adapt to frequent changing parameters.